Financial KPIs And Metrics For Dentists

Financial KPIs are the foundation of business success for dental practices. By setting and tracking specific accounting metrics and values, you can ensure that your business is continually achieving its objectives. In this article, we explore essential accounting KPIs and metrics that every dentist should track to maximize their business’s financial success. 1. Net Profit…

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New Year Resolutions: 15 Dental Goals For Financial Success

As a dentist, the start of a new year is the perfect time to set specific resolutions and dental goals to enhance both your professional practice and your personal wellbeing. It’s also a great time to reflect on what worked well in the previous year, and what didn’t. That way you can keep building on…

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Mitigating Tax Risks For Dental Practice Owners

Tax mitigation is essential as a dental practice owner. With increased funding to the IRS, your chances of being audited are increasing, especially if you have $400,000 or more in total annual income. At the same time, taxes are also going up.  Starting in 2022, research and development (R&D) expenses previously allowed as deductible items…

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Financial Considerations For Buying a Dental Practice

Buying a dental practice is the natural next step for many dental associates looking to advance their career. Working for someone else is part of the journey, but it’s usually not the end goal. If you want to build a thriving business, invest in your future, and have control over your time and money –…

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Business Valuation

Knowing the valuation of your business is essential for acquisitions, exit-planning strategies and the general health and well-being of your company. And if your business is family-owned, you might not even understand the total value of what you have created. That can lead to a decline in value later during the selling process. What is…

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Top 7 Ways to Effectively Market Your Dental Practice

Marketing is easy to overlook amidst the daily grind of patient care, managing the administrative functions, and keeping up to date with dental equipment purchases. There’s only so many hours of the day, and sometimes it seems like you’re treading water just to keep up with patient demands.  But dental marketing is vital if you…

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Benefits of Tax Planning for Dentists

There is no doubt that accurate and efficient tax planning is vital for the success of your dental business. Operating a profitable dental practice entails more than just tax preparation. It requires the right tax planning to enable you to minimize, defer, or eliminate the amount of taxes your business owes. Rather than take on…

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Best State to Start a Business

What is the best state to start a business? The state of Utah is considered the sixth best destination, or state, for both starting a new business, and opening a small business, in two separate national reports, released recently, that used various quality-of-life and business environment metrics. Utah ranked especially well for consumer spending, and…

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